There has been no request to restructure domestic debt

ECONOMYNEXT – Sri Lanka’s central bank said it was holding its policy rates at 15.50 percent, while data showed market interest rates are close to twice the rate and private credit and imports falling. Monetary Policy Review: No. 06 – August 2022The Central Bank of Sri Lanka maintains policy interest rates at their current levelsThe Monetary Board of the Central Bank of Sri Lanka...

Trade, Commerce and Food Security Minister Nalin Fernando has revealed that about 30,000 tonnes of rice, imported to meet the shortfall in the market, have been used as animal feed. The disclosure was made at the inaugural meet of the Food Security Committee, held at the Ministry yesterday (17). Among those present were Secretaries to […]

…questions mysterious cancellation of Japanese-funded LRT project By Shamindra Ferdinando Ruling party rebel lawmaker Prof. Charitha Herath says that the cancellation of the Japanese funded USD 1.5 bn light rail transit (LRT) project remains a mystery. The SLPP National List MP told The Island yesterday (17) that his efforts, in his former capacity as Chairman […]

Govt. briefs international community ahead of Geneva sessions The government has assured the Colombo-based diplomatic community that the restoration of the provisions in the 19th Amendment, by the enactment of the 21st Amendment, would strengthen parliamentary democracy, enhance oversight of the executive branches of government and ensure independence of key institutions. The government also said ...

Thursday 18th August 2022 Speculation is rife that former President Gotabaya Rajapaksa is planning to return to Sri Lanka. The question, however, is not whether he is coming, but what he is doing overseas. The anti-government protesters who engineered his ouster called upon him to ‘go home’; they did not ask him to flee the […]

By Hiran H.Senewiratne The CSE turned negative yesterday due to profit- takings but during the last session the market showed some recovery on account of some stability in the macro- economic arena and on the political front in the country, stock market analysts said. Developments in favour of the market were: A UK trade arrangement […]

The national Insurer Sri Lanka Insurance enters into a strategic tie up and signed a Memorandum of Understanding (MoU) with the Ceylon Motor Traders Association (CMTA) the representative body of Sri Lanka Automotive industry to provide an exclusive vehicle insurance package for the CMTA members. The MoU exchange took place between the two parties recently […]

Regional Director for Asia-Pacific from the United Nations Development Coordination Office (UNDCO) David McLachlan-Karr has called on Sri Lanka s Minister of Foreign Affairs on Wednesday (Aug 17), UN Resident Coordinator in Sri Lanka, Hanaa Singer says.

President Ranil Wickremesinghe, speaking of the reforms he plans to introduce, stated that the Sri Lankan government is looking at raising income taxes and widening the tax net by taxing capital and wealth in order to bring in some of the lost revenue.

Market down for 2nd time in 14 straight sessions

Korea had been the top foreign investment generator in 80s and it desires to regain that position

Sri Lanka Navy apprehend 10 individuals, suspected to be on an illegal migration attempt to a foreign country via sea, during a special operation conducted in seas off Kurusapadu, Talaimannar.

” Sri Lanka cannot do without IMF’s support. Having declared its inability to service its foreign debt, Sri Lanka is struggling to reach a consensus with lenders and the IMF. Two of Sri Lanka’s major creditors, India and China, locked horns over a port visit by a Chinese ship. Sri Lanka should be wary of […]

By Neville Ladduwahetty “Relationship Not Normal, Can’t Be…”: S Jaishankar On India-China Ties As reported by a NDTV Staff Writer (13 Aug, 2022}, “External Affairs Minister S Jaishankar on Friday said that India-China relations cannot be normal unless border situation is and added that if China disturbs the peace and tranquility in border areas, it […]

As part of her enterprising and humanitarian foreign policy, the Government of the Republic of Turkey is donating urgent medical equipment and medicines to the Government of Sri Lanka to ease the hardship faced by the Sri Lankan people during these challenging times. The first consignment, including urgent medicines, arrived at the Bandaranaike International Airport, […]

By Hiran H.Senewiratne ‘Sri Lanka is located at the heart of a vital global shipping line and more than 45000 ships and an equal number of aircraft navigate this route via Sri Lanka’s Dondra head annually. However, not a single ship nor aircraft is enabled to make a stop-over at Dondra for bunkering, re-fueling and […]

Sri Lanka s Minister of Foreign Affairs Ali Sabry met the Colombo-based Ambassadors and High Commissioners at the Ministry of Foreign Affairs for a briefing on current developments ahead of the 51st session of the Human Rights Council in Geneva.

Market has been on the rise due political stability hope after months of protests

The MPs’ political engagement “in a highly sensitive issue such as this” was “totally unnecessary”, Herath tweeted.

"For the first time we have defaulted on foreign debt repayment. But we cannot avoid debt," he said.